How to Make Your First Home an Investment with Nancy Lopez
Hosted by: Kristina Modares and Steph Douglass
featuring Nancy Lopez
Produced and Edited by: Alan Galinsky
Music by: Bensound
Photo by: Chelsea Francis
Graphic by: Molly Knobloch
Highlights
- How Nancy (and Steph) took advantage of having roommates and eventually renting out their first properties to get the most of our their investments
- Why getting caught up in the idea of failing can hold you back as an investor
- Why Nancy choose socially responsible renting over more profit with her investment property
- What lessons were learned during a remodel that gave Nancy confidence to do it again
Episode Summary
This episode is the first Open House Podcast interview! Steph interviews Nancy Lopez, a friend of hers from childhood that now owns 2 properties in Austin.
Steph and Nancy start by talking about how they met and their history, as well as Nancy’s professional background. Nancy explains that seeing Steph buy her first home in 2013 inspired her to buy her first property in 2015. She details the experience, from the application process, to the cost, to the renovations she needed to make.
She then explains how her second property sort of fell into her lap when she really wasn’t planning to buy a new house. Once she saw this home, and saw the potential, she decided to check it out with Steph and put in an offer. After her purchase, she debated whether or not she should sell her first home to help pay for the second, but instead decided to rent it out. She made the incredible choice to rent it out at a fair price rather than hiking it up and making way more money, which she could have easily done.
She then discusses what it’s like owning two properties, her plans for her new home, and what she’s learned by investing in real estate. She was much more comfortable doing renovations on her second property, because she’s been through it before and knew what to expect. She felt a lot more confidence becoming a homeowner for the second time.
There is a lot we can all learn from Nancy’s experience, especially ways to be a socially responsible landlady.
Guest Bio
Nancy is 31 and originally from Houston,TX but has been living in Austin for nearly 10 years. She graduated from the University of Oklahoma with a degree in Journalism. Her first few years in Austin were spent in the Marketing field, but after a couple of “plot twists”, she found herself working in the tech field. She couldn’t be happier to be where she is now and is so excited to share her investing story!
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